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Essar Group's Green Energy Focus: A Sustainable Growth Strategy
Key Ideas
  • Essar Group to invest ₹30,000 crore in a green hydrogen facility in Jamnagar, aligning with its clean energy growth strategy.
  • Essar Future Energy aims to develop 1GW hydrogen capacity and 1 million tons of green molecules annually in the next four years.
  • Essar plans to decarbonize its UK oil refinery, establish a green steel plant in Saudi Arabia, and focus on LNG for heavy truck decarbonization.
  • Essar Power to expand its thermal power plant and develop LNG and electric infrastructure for long-haul trucks, emphasizing sustainability.
The Essar Group, a prominent conglomerate, announced its strategic shift towards clean energy as a primary driver for future growth. With a massive investment of ₹30,000 crore, the group plans to establish a green hydrogen facility in Jamnagar, Gujarat. Essar Future Energy, a subsidiary, is ambitiously aiming for a 1GW hydrogen capacity and a million tons of green molecules production annually in the coming years. Beyond hydrogen, Essar Group also focuses on mining minerals for electric vehicle components. The conglomerate is not only investing in green hydrogen but also aims to decarbonize its operations globally, with plans for a green steel plant in Saudi Arabia and LNG infrastructure for heavy trucks. Essar Power, another subsidiary, is expanding its thermal power plant to meet Gujarat's energy needs while also venturing into LNG for heavy truck logistics. The group's commitment to sustainable energy solutions and decarbonization reflects a positive outlook towards green technologies and environmental responsibility.
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